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Euroyenlong

EUR/JPY: Bullish trendline breakOn the daily chart, there is a clear break of a downtrend line with a confirmed weekly close above it - unlike during the liquidity grab where the price broke higher but then closed the week under the trendline. This broken trendline and Friday’s low at 161 is now support. Should the price be able to break above the August peak, a next possible upside target is 167.5 (the 61.8% Fibonacci retracement of July-August drop. But that’s just what we think, do you agree or disagree? Send us a message and let us know Happy Trading! Jasper, WeTrade Market Analyst and Founder of Trading Writers.
Long
by jasperlawler
1
EURJPY buy ideaNot much analysis to go over with this potential trade, we are currently trading within a range where the resistance is signifacntly strong meaning any bullish momentum beyond this could be a continuous move to the upside. The key here is to watch out for potential fakeouts that we have seen over the past few trading days, the market is having a blast with fakeouts in ranges so it is important we only take trades with high probability set-ups. As always, if you like this potential idea and have any feedback, please leave and like and comment. If you have any requests for pairs or suggestions feel free to let me know, I'll be happy to get back to you :)
Long
by FriesianFX